Ukraine: soybean processing in 2018/19 MY to increase – APK-Inform

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APK-Inform

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According to the updated forecast of APK-Inform Agency analysts, the potential of the soybean processing in Ukraine in 2018/19 MY to increase to 1.67 mln tonnes, which is higher by third compared to the last year’s results. Thus, by the end of the current season this figure can reach an all-time high.

According to the analysts, the reason for the upward adjustment of the forecast was the growth of the soybean processing in January and the announcements of the large Ukrainian companies about the plans to enlarge the volumes of processing in the coming months.

In particular, by January of 2019, the soybean processing volumes increased sharply to the record 153 thsd tonnes, which is higher by 23% compared the previous month and by 29% year-on-year. For the 5 months of 2018/19 MY (September-January) the volumes of oilseed processing totaled 620 thsd tonnes, which is 18% higher year-on-year. Thus, the updated forecast is 37% complete.

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